He described his first year as chairman as challenging but an honour.
"We leave this year with a bitter taste in our mouth because we got close to winning the title and didn't and we will let that remind us of what we didn't achieve and let it fuel us towards success in the future."
Cavenagh called for unity between supporters and staff. "It has not nearly been good enough and we know it needs to be better.
... We will do it together."
Analysts Weigh In on Rangers' Direction
Former players and analysts have debated the club's trajectory under North American ownership.
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John Walker, a Scottish coach and analyst, said he was an advocate for Russell Martin's appointment but now believes a more experienced manager who knows the league would have been better.
"Probably the man that ended up in the Hearts dugout is the one we should have approached for a safer transition," Walker said, referring to Derek McInnes.
He compared Rangers' situation to Brighton's appointment of Chris Hughton during ownership transition.
Walker supported Cavenagh's decision to retain Rohl.
"I understand Cavenagh backing him as such, because I think that is the case, they probably look at Rohl behind the scenes more as the type of person they wanted in charge of their club."
He predicted a three-year transition before the ownership group stabilises its model, citing Leeds United as an example.
